Raymond James hires issuer official as banker in Arkansas

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Cheryl Schluterman, former president and chief financial officer of the Arkansas Development Finance Authority, has joined the Raymond James Public Finance group in Little Rock as senior vice president.

“Cheryl is a well-respected and longtime financial industry professional whose addition reflects our firm’s ongoing commitment to growing our Public Finance franchise, as well as our municipal platform as a whole,” said Daniel Allen, head of the firm’s Arkansas Public Finance practice. “Her expertise provides valuable insights into the industry and the knowledge of how to best serve our issuer clients.”


The Arkansas Development Finance Authority is the state’s primary issuer of bonds. Schluterman was its vice president for finance and administration from 2013 to October 2018, according to her LinkedIn profile, and served as its president from then until August, when she left to join Raymond James.

Before joining the state agency, Schluterman managed tax and treasury services at Little Rock’s Baptist Health. She previously worked at BKD in a number of public accounting specialties, including tax compliance, consulting and arbitrage calculations for healthcare and not-for-profit entities.

“Cheryl’s work throughout the state makes her the right person to build on our firm’s long history in Arkansas,” said Gavin Murrey, executive vice president and head of public finance and debt investment banking at Raymond James. “She is a talented finance professional whose diverse background, including public accounting, not-for-profit healthcare and leading the statewide governmental issuer, further strengthens and adds depth to our roster of experts who provide exceptional, customized solutions to our issuer clients.”

Raymond James has one of the largest public finance practices in the country with about 170 professionals in 35 locations nationwide. Company officials said they are searching for additional banking talent to continue expanding the practice.

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Career moves Sell side Raymond James Financial Arkansas
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